The UK’s Chancellor of the Exchequer, Rishi Sunak today announced big steps that are to be taken by the UK Government as part of the UK’s ongoing economic recovery from the Coronavirus which has hit the country. Focusing on the mantra of “jobs, jobs, jobs,” Rishi Sunak announced, amongst other measures:
- The gradual winding down of the current Furlough Scheme, starting flexibly
- A Jobs Retention Bonus for companies that bring back furloughed workers
- A 3-Point Plan to create more jobs in the UK
- A new Kickstart-Scheme which will entail the Government directly pay employers to create jobs for those up to the age of 25
- Boosts for Job Centres
- VAT cuts for the hospitality and tourism sectors, slashing VAT from 20% to just 5% until January 2021
- For August, a new ‘Eat Out to Help Out’ scheme which will provide vouchers for customers and diners, enabling 50% off means up to £10
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